Now that Senate Democrats have changed the chamber's rules to block filibusters of executive appointments, analysts anticipate a much easier path for Rep. Mel Watt.
Read More »Report: Recovery Suffering from ‘Broken’ Housing Policies
A new report published by the Opportunity Agenda, National Fair Housing Alliance, and the National Association of Real Estate Brokers (NAREB) claims that the U.S. housing policy is broken.
Read More »JPMorgan, Feds Reach Record $13B Deal on RMBS Claims
After weeks of speculation from market watchers and analysts, JPMorgan Chase announced it has finalized a $ 13 billion deal with the Justice Department.
Read More »Freddie Mac Cuts Taxpayers’ Exposure to Risk with Insurance Purchase
Freddie Mac announced Tuesday that it has obtained an insurance policy intended to attract new sources of private capital from non-mortgage guaranty insurers and reinsurers.
Read More »Fannie, Freddie Directed to Restrict Force-Placed Insurance Practices
Citing concerns about the costs of force-placed insurance for the GSEs and consumers alike, the Federal Housing Finance Agency (FHFA) on Tuesday directed Fannie Mae and Freddie Mac to prohibit servicers from taking reimbursements from insurers providing forced policies. Fannie Mae and Freddie Mac will provide aligned guidance to sellers and servicers to prohibit these practices, including implementation schedules. In addition, acting FHFA director Edward DeMarco announced the agency is considering further measures.
Read More »Republicans Block Watt Nomination for FHFA Head
Senate Republicans blocked on Thursday a vote on the nomination of Rep. Mel Watt (D-North Carolina) to head up the Federal Housing Finance Agency (FHFA). Watt's nomination was stopped in a 56-42 vote to end the debate over his confirmation. Sixty votes were needed to invoke cloture and move forward. The agency has been led since 2009 by acting director Edward DeMarco, who has attracted criticism from Democrats and consumer advocates who say he hasn't gone far enough to help distressed homeowners.
Read More »Ally Announces Settlements with FHFA, FDIC
Ally Financial Inc. announced Tuesday the bank has reached settlements with the Federal Housing Finance Agency (FHFA) and FDIC for all pending litigation related to toxic mortgages.
Read More »JPMorgan, FHFA Settle on $5.1B Deal over Soured Loans
JPMorgan Chase announced it has come to agreements to close the book on claims surrounding mortgage-backed securities and rep and warranty repurchase claims from FHFA and the GSEs.
Read More »BofA, Mairone Found Liable in Mortgage Fraud Case
After hearing arguments for a month in a Manhattan federal court, a 10-person jury found Bank of American liable for one charge of fraud involving high-risk mortgages originated by Countrywide and then sold to the GSEs. Also found liable for fraud was Rebecca Mairone, who worked as COO for one of Countrywide's lending divisions and who was responsible for overseeing the company's "High Speed Swim Lane" program, often referred to as "the Hustle."
Read More »FHFA: August Marks 19 Months of Home Price Gains
Marking 19 consecutive months of appreciation, the Federal Housing Finance Agency (FHFA) House Price Index rose 0.3 percent on a seasonally adjusted monthly basis in August. On a yearly basis, the index is up 8.5 percent. Of the nine census divisions, FHFA detected the greatest monthly price increase in the Mountain division, where prices increased 1.3 percent in August. The greatest monthly decrease took place in the South Atlantic division, where prices declined 0.5 percent.
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